Warrant Coverage

Warrant Coverage. Initially means $590,437.50; provided however, that upon any Advance under the Loan Agreement, Warrant Coverage shall be increased by the product of (i) the amount of such Advance times 3.8775%) up to a maximum warrant coverage of $881,250.

Warrant Coverage. Initially means $328,300; provided however, that upon any Advance under the Loan Agreement, Warrant Coverage means the sum of: (i) $328,300 plus (ii) 98% times 3.30% times the amount of all Advances made under the Loan Agreement.

Warrant Coverage. Initially means $6,700; provided however, that upon any Advance under the Loan Agreement, Warrant Coverage means the sum of: (i) $6,700 plus (ii) 2% times 3.30% times the amount of all Advances made under the Loan Agreement.

Warrant Coverage. Initially means $480,000; provided however, that upon the funding of any Additional Advance under the Loan Agreement as amended, Warrant Coverage means the sum of: (i) $480,000 plus (ii) 2.0% times the amount of all Additional Advances made under the Loan Agreement.

Warrant Coverage. Initially means $437,500; provided however, that upon any Advance under the Loan Agreement prior to the closing of a Qualified Financing, Warrant Coverage means the sum of: (i) $437,500 plus (ii) 3.5% times the amount of all Advances, if any, made under the Loan Agreement prior to the closing of a Qualified Financing; it being understood and agreed that the Warrant Coverage shall never exceed $875,000.

Warrant Coverage. 3.5% times the amount of all Advances, if any, made under the Loan Agreement on or after the closing of a Qualified Financing; it being understood and agreed that in no event shall the Warrant Coverage exceed $875,000 less the "Warrant Coverage" under the First Warrant.

Warrant Coverage. 3.0% times 50% of the amount of all Advances (as defined in the Loan Agreement) made under the Loan Agreement, if any.